#businessinUAEDubai

[ebmsbusiness-blog]

Merits of setting up an offshore company that you should know

The United Arab Emirates is attracting entrepreneurs and business owners from all around the world. UAE is a tax haven for businessmen around the globe and offers many benefits. It gives outstanding asset protection, financial confidentiality, low registration cost, no red tape, and secure property rights. Also, the country’s stable and reliable political stance is also attracting investors who want to set-up an offshore company and are looking for Economic Free Zones.

The quick and simple process of offshore company registration is the reason Dubai is going up in terms of business formation. In this article, we have mentioned some of the benefits of setting up an offshore company in Dubai. They are as follows:

1. No Tax Burden

One of the best benefits any businessman can get is zero tax charges and UAE offers the same on its offshore companies. Due to this, you are exempted from any income tax, corporate tax, personal tax or custom duty. Business owners have a full return on their investment and reap financial benefits in the country.

2. Confidentiality

If you have an offshore account then you are liable to hold a public record of the companies’ directors and shareholders in UAE. You gain complete business anonymity as none of the information related to the ownership structure of the company is not disclosed.

3. Full Foreign Ownership

UAE offers 100% foreign ownership of your offshore company and you can also open a bank account in the Emirates. This is not possible in other GCC countries as you require a local shareholder and a partner. Also, the shareholder of the company is eligible to operate the business and is also allowed to own the property in the selected areas.

4. Asset Protection

UAE has various asset protection jurisdictions for an offshore company that offers a strong and reliable platform for the investors to the domestic business structures. UAE offers asset protection to the foreign trustee so that they are enabled to create a legal wall between the creditors and the assets secured within the company.

5. Double Taxation Avoidance Agreement DTTA

To benefit the investors and foreign residents, all the countries sign a tax treaty called the Double Taxation Avoidance Agreement. This treaty is advantageous for offshore companies because it states that the taxpayers and international residents can avoid paying tax in two countries- the source country and the residence country.

6. Multi-currency accounts

Dubai allows offshore companies to open multi-money accounts and complete businesses globally. You can hold pounds, euros or some other currency inside a similar account.

The number of offshore companies is increasing in the United Arab Emirates each year. The fact that you don’t have to reveal your riches and different subtleties while setting up a business in Dubai is one of the merits that is attracting entrepreneurs.

To set up an offshore company in Dubai, contact us as we provide all the facilities and knowledge to ensure that your company or branch in UAE stays right in the competition without any glitches.